Village Farms's bearish run has lasted 7 days so far (-45 cents). More of the same from yesterday's session: the controlled environment agriculture pioneer has recovered almost all of its session losses after dipping down to $1.62 yesterday.
United States Crude Oil Inventories data will be released today at 15:30 UTC, with an expected improvement to -3.60 million. Village Farms reaction to indicator information will follow.
Amid the market gloom, United States Consumer Price Index released yesterday at 13:30 UTC with a figure of 0.1%, while the previous figure was 0.4%. United States Core Consumer Prices came out at 0.2%, while a consensus of analysts was expecting 0.3%. United States Consumer Price Index came out at 7.1%.
Village Farms International, Inc. made an initial break below its 5 day Simple Moving Average at $1.74, a possible indication of a forthcoming negative trend. Despite this, Village Farms's lower Bollinger Band® is at $1.6, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Village Farms could begin to recover as it approaches significant support, now 2 cents away from $1.66. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Village Farms.
On the other hand, positive performances could be seen by looking at other consumer staples stocks as Anheuser-Busch traded at $60.81 after closing yesterday's trading day at $60 (up 1.37%). Diageo was up 0.71%.
Looking ahead, ongoing depreciation may be prolonged as projections for United States Retail Sales are set for a continuation of decline with -0.1% while previous data was 1.3%; data will be released tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States Core Retail Sales will be released, with an expected decline to 0.2% from the preceding figure of 1.3%.
Furthermore, United States Philadelphia Fed Manufacturing Index (Dec) is expected tomorrow at 13:30 UTC.
Village Farms hit a significant low of $1.64 around a day ago, but has since recovered 3.05%.